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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (66649)	8/31/2010 9:54:57 AM
From: LoneClone	Read Replies (1) \| Respond to of 194876

Azumah Resources looks to boost gold resources at Wa Project proactiveinvestors.com.au Azumah Resources (ASX: AZM) has reported that drilling has extended the known mineralisation at its Julie and Collette deposits and confirmed a totally new zone of mineralisation to the south west of Collette, located within its Wa Gold Project in Ghana. The discovery of more gold at the Julie deposit is paving the way for an increase in the deposit’s current 350,100oz resource. The Maiden resource estimate at the Collette deposit is nearing completion with recent drilling highlighting possible depth extensions. Drilling confirms mineralisation in structure trending south west from Collette and there have been promising results from first pass drilling at Kjersti prospect. Further announcements are imminent with more than 2,500 samples awaiting assay. In addition, a 20,000 line kilometre, high-resolution aeromagnetic and radiometric geophysical survey has been completed. Stephen Stone, managing director, said the latest results would strengthen Azumah’s push to increase the current 1.1 million-ounce resource and the development of an initial 70,000 ounces a year gold operation. “The Julie deposit continues to exceed our early expectations and there is every likelihood that this resource will be increased,” Stone said. “A maiden resource is now being calculated for Collette and Kjersti is showing early promise.” At the eastern end of the Julie trend step-out RC drilling, targeting multiple north-south trending mineralised quartz veins intersecting the main east-west mineralised structure, identified shallow high-grade mineralisation. This has added some 100m strike length to mineralisation outside the existing preliminary optimised pit shell. This drilling also confirms that the Julie mineralisation remains open along strike in this direction. Best intercepts obtained immediately to the east of the optimised pit perimeter were: - 12m at 8.19g/t gold from 20m (AJRC173), - 8m at 2.91g/t gold from 40m (AJRC169), - 8m at 2.12g/t gold from 72m (AJRC170), and - 13m at 1.44g/t gold from 101m (AJRC128). In addition, RC drilling immediately north of the optimised pit perimeter intersected additional north-south trending vein sets and extensions to the main east-west Julie trend. These results indicate opportunities to delineate more high-grade gold shoots at sites of structural intersection and the possibility of also expanding the pit shell to the north. Best intercepts included: - 2m at 5.24g/t gold from 1m (AJRC129) - 12m at 1.17g/t gold from 64m (AJRC178), and - 8m at 3.13g/t gold from 36m (AJRC182). At the western end of the Julie trend, RC drilling has identified further quartz vein hosted high-grade mineralisation at shallow depths and indicated a strong likelihood for depth extensions to the mineralised structure. Best intercepts included: - 5m at 5.71g/t gold from 9m and 4m at 7.42g/t gold from 19m (AJRC161) - 4m at 3.95g/t gold from surface (AJRC160) - 12m at 3.31g/t gold from 76m (AJRC151), and - 8m at 2.78g/t gold from 80m (AJRC152). RC drilling to target the main east-west trending mineralised structure at Collette intersected further shallow depth mineralisation and also demonstrated the opportunity for depth extensions, with best intercepts including: - 4m at 3.18g/t gold from 6m (ACORC198) - 5m at 4.18g/t gold from 78m (ACORC208), and - 5m at 4.43g/t gold from 119m (ACORC207) These results will be added into the maiden Collette resource estimation which is nearing completion. Also at Kjersti, Azumah has completed a broad shallow depth reconnaissance aircore drilling campaign to test an 11km zone of east-west trending gold-in-soil anomalism. Results received to date indicate that a north west – south east trending structure controls mineralisation in this area. Best intersections (4m composited samples) included: - 4m at 1.52g/t gold from 4m (AKJA025), and - 4m at 5.50g/t gold from surface and 2m at 3.52g/t gold from 24m to EOH (AKJA110) Assays are awaited for some 2,500 samples from reverse circulation (RC) and aircore drilling programs completed at all key deposits prior to the onset of seasonal rains. Subject to the cessation of seasonal rains, Azumah is expected to recommence drilling in the first weeks of October. Azumah has 214.40 million ordinary shares issued and 12.50 million unlisted options.